Rays of Belief Ltd
Incorporated in 2017, Rays of Belief Ltd.
is a for-profit social enterprise providing personalised intervention plans for children
with Neurodevelopmental Disorders (NDDs).[1]
- Market Cap ₹ 474 Cr.
- Current Price ₹ 227
- High / Low ₹ 268 / 208
- Stock P/E 129
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 15.1 %
- ROE 11.4 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 22.13 | 30.61 | 36.42 | 47.58 | |
| 29.29 | 29.04 | 33.34 | 42.22 | |
| Operating Profit | -7.16 | 1.57 | 3.08 | 5.36 |
| OPM % | -32.35% | 5.13% | 8.46% | 11.27% |
| 0.14 | 0.15 | 0.12 | 0.40 | |
| Interest | 0.20 | 0.21 | 0.66 | 0.76 |
| Depreciation | 1.24 | 1.41 | 2.19 | 2.49 |
| Profit before tax | -8.46 | 0.10 | 0.35 | 2.51 |
| Tax % | 0.00% | -750.00% | -1,580.00% | 31.87% |
| -8.46 | 0.85 | 5.88 | 1.71 | |
| EPS in Rs | -280.60 | 27.20 | 183.58 | 1.10 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 29% |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 30% |
| TTM: | -71% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 0.30 | 0.31 | 0.32 | |
| Reserves | 4.06 | 5.47 | 14.70 | |
| 1.41 | 2.13 | 6.58 | ||
| 2.01 | 4.99 | 4.52 | ||
| Total Liabilities | 7.78 | 12.90 | 26.12 | |
| 2.13 | 3.55 | 4.19 | ||
| CWIP | 0.05 | 0.39 | 0.31 | |
| Investments | 0.00 | 0.00 | 0.00 | |
| 5.60 | 8.96 | 21.62 | ||
| Total Assets | 7.78 | 12.90 | 26.12 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -6.86 | 2.10 | -1.81 | ||
| 1.52 | -2.75 | -2.04 | ||
| 7.56 | 1.04 | 4.90 | ||
| Net Cash Flow | 2.22 | 0.39 | 1.05 | |
| Free Cash Flow | -7.58 | 0.62 | -3.58 | |
| CFO/OP | 96% | 140% | -58% |
Ratios
Standalone / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 0.66 | 2.15 | 30.87 | |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 0.66 | 2.15 | 30.87 | |
| Working Capital Days | -17.81 | -13.36 | 27.26 | |
| ROCE % | 4.53% | 6.85% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Q1 FY27 results: revenue ₹253.14 Mn, EBITDA ₹50.77 Mn, net profit ₹27.87 Mn.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Please find enclsoed Newspaper Publication for Un-audited Financial Results for the Quarter ended June 30, 2026
- Unaudited Financial Result For The Quarter Ended June 30, 2026
-
Board Meeting Outcome for Outcome Of Board Meeting Held On September 28, 2026.
- Q1 FY27 results approved; subsidiary acquired City Pro Group Inc., becoming step-down WOS.
- Closure of Trading Window
Business Overview:[1]
Rays of Belief Limited is focused on providing personalised intervention plans for children with Neurodevelopmental Disorders (NDDs). Its target conditions include Autism Spectrum Disorder (ASD), ADHD, Down Syndrome (DS), Cerebral Palsy (CP), Intellectual Disability (ID), Learning Disabilities (LD) and Global Developmental Delay (GDD). The company operates under the Mom’s Belief brand.
The Co. has a network of 136 centres across 57 cities and 20 states/UTs as of March 2026. The network is skewed towards Tier-2 cities, with 77 Tier-2 centres, 42 Tier-1 centres and 17 Tier-3 centres, giving the company a presence in relatively underserved markets.[2]